Delay in IMF programme, Pakistan Stock Exchange nosedives over 1,378 points,

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KARACHI – Pakistan Stock Exchange (PSX) on Tuesday dropped to a 30-month low as the political instability, delay in revival of IMF loan programme and depleting foreign exchange reserves triggered investors’ massive exit from the market.
The benchmark KSE-100 Index plunged 1,378.54 points or about 3.47%, to close at 38,342.21 points. This is the lowest level after Jul 27, 2020.
The index suspended at 38,342.21 points, down by 1,378.54 (-3.47% DoD) as it closed 39,720.75 points on Monday. Sectors contributing to the performance include ESP’s (-240.40pts), Technology and Communication (-222.8pts), Commercial Banks (-199.0pts), Cement (-164.9pts), and Fertilizer (-138.1pts).

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